ARM (NASDAQ:ARM) Trading 1.9% Higher – Here’s Why

Arm Holdings plc (NASDAQ:ARM)’s stock price traded up 1.9% during trading on Tuesday . The stock traded as high as $131.32 and last traded at $131.07. 1,066,155 shares traded hands during trading, a decline of 90% from the average session volume of 10,738,377 shares. The stock had previously closed at $128.66.

Analyst Ratings Changes

ARM has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Daiwa Capital Markets upgraded shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price objective for the company in a research note on Thursday, August 8th. TD Cowen increased their price objective on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Benchmark assumed coverage on shares of ARM in a report on Monday, September 16th. They set a “hold” rating on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price target on shares of ARM in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ARM has a consensus rating of “Moderate Buy” and an average target price of $147.95.

ARM Trading Up 3.6 %

The business’s 50-day simple moving average is $143.67 and its 200 day simple moving average is $140.07. The company has a market capitalization of $139.71 billion, a P/E ratio of 218.45, a P/E/G ratio of 6.43 and a beta of 5.40.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same period last year, the company posted $0.36 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts predict that Arm Holdings plc will post 0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Transcendent Capital Group LLC acquired a new stake in ARM during the second quarter valued at approximately $33,000. ORG Partners LLC acquired a new stake in shares of ARM during the 3rd quarter valued at $29,000. RiverPark Advisors LLC boosted its stake in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after acquiring an additional 77 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of ARM during the second quarter worth $41,000. Finally, Gilliland Jeter Wealth Management LLC lifted its holdings in shares of ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

About ARM

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.